Law Talk brings answers to questions that you, our viewers submit to be answered by our team of lawyers. In this edition of Law Talk, Attorney Megan Collins discusses purchasing insurance.

Purchasing insurance is not something that people generally like to spend money on, however, if you find yourself in a situation where you need it, you are going to want there to be adequate coverage. That is regardless if it is automobile insurance, homeowner’s insurance, renters insurance, or some other type.

Purchasing insurance can definitely be confusing with competing factors at play. One of the factors is that the requirements may differ based on where you live. And the required minimums may not be adequate for what we should carry to cover ourselves. One example of this is the minimum required automobile insurance required in New York State is $25,000 for bodily injury while in Pennsylvania the minimum is $15,000 for bodily injury.

Attorney Collins also discusses supplemental insurance and the purpose and benefits of having it, in case the other driver does not have sufficient coverage, or to cover yourself in the case of your own negligence. She also discusses how it protects your personal assets from forfeiture.

Paying more for insurance may seem like something that no one wants to do, however, the great protection you get may be worth it. The next time you purchase a new asset such as a home, vehicle, or boat, take time to talk to your insurance adjuster to see what coverage is right for you. Because at the end of the day, if you’re injured in an accident, you can’t simply rely on others to make sure that your interests are protected.

You can catch Law Talk on Wednesdays during 18 News at Noon. You can submit questions to be answered by emailing lawtalk@wetmtv.com. Megan Collins is based out of Corning and works with clients from around the region.